This page describes a real fraud type affecting SWIFT wire transfer users. If you believe you have been targeted, do not send money and contact your bank immediately. Verify any SWIFT payment free using the UETR tracker at the bottom of this page.
Advance Fee Fraud (419 / "Nigerian Prince" Scams)
Advance fee fraud — also known as 419 fraud, "Nigerian Prince" scam, or "next-of-kin" fraud — is one of the oldest and most profitable fraud types in the world. In the SWIFT era, fraudsters claim that a large sum of money has been transferred to a special escrow or correspondent bank account, but the victim must pay a small "release fee", "tax", "legal fee" or "compliance charge" to unlock it. The large payment never exists; the fraudster pockets every "fee" paid.
How This Fraud Works
The victim receives an unsolicited email, letter or social media message claiming they are the beneficiary of a large inheritance, lottery win, unclaimed estate, or business opportunity.
The fraudster provides a fake SWIFT MT103 or bank statement showing millions of dollars "held in escrow" or "at a correspondent bank", ready to transfer once a fee is paid.
The victim pays the first fee. The fraudster finds new reasons for additional fees (tax, compliance, anti-money-laundering, government approval), each promising the big payment is almost released.
Fees escalate over weeks or months, sometimes totalling tens of thousands of dollars, before the victim realises no payment was ever coming.
Red Flags — Warning Signs
An unexpected message claiming you are owed a large sum of money you knew nothing about.
A request for an upfront "release fee", "tax clearance", "anti-money-laundering certificate", or "compliance charge" before you can receive the money.
The "SWIFT confirmation" they send cannot be verified on Ohmyfin — the UETR returns no result.
Urgency pressure: "the window is closing", "the funds will be seized if you don't act today".
Requests for secrecy: "do not tell your bank" or "do not tell family members".
Contact comes via personal email accounts (Gmail, Yahoo) rather than official bank or government domains.
Requests for bank details, copy of passport or national ID.
How to Verify Before Acting
Ask for the UETR of the alleged SWIFT transfer (any real transfer since 2017 has one). Paste it into Ohmyfin.
A real, completed transfer will show ACSC or ACCC status. A non-existent payment will show "not found".
Contact the purported bank directly using contact details you find independently — not from the email.
Check the bank's official BIC code (e.g. on ohmyfin.org/swift-code) and verify it matches the one on the document.
Never pay any fee to receive money. Legitimate inheritances, lottery winnings and business payments do not require upfront payments from the recipient.
What To Do If You Are Targeted
Stop all communication immediately.
Do not send any money, gift cards, cryptocurrency or bank details.
Report to Action Fraud (UK), IC3 (US FBI internet crime), or your national fraud authority.
If you have already paid fees, contact your bank immediately — some payments can be recalled.
Warn family and friends, especially older relatives who may be targeted.
Verify Any SWIFT Payment — Free in 30 Seconds
Paste the 36-character UETR from any MT103 or payment confirmation. If the payment is real, Ohmyfin shows the live SWIFT GPI status. If it's fake, it shows "not found". Free for individuals.
Advance fee fraud tricks victims into paying a small fee upfront to receive a large sum of money that doesn't actually exist. The fraudster invents reasons for ever-larger fees while the promised windfall never materialises.
Why do fraudsters use SWIFT documentation?
SWIFT is trusted globally as the backbone of international banking. A fake MT103 or SWIFT confirmation makes the fraud look credible, because most people don't know how to verify one. Ohmyfin's UETR tracker closes this verification gap instantly.
Can I get my money back if I already paid?
Act quickly. Contact your bank within 24 hours of any bank transfer — some international recalls are possible under SWIFT's recall mechanism. If you paid by card, you may have chargeback rights. If you paid by cryptocurrency or gift card, recovery is extremely unlikely.
Is it illegal to contact me unsolicited about a big inheritance?
Advance fee fraud is a criminal offence in virtually every jurisdiction. The fraudsters are often based across international borders, which complicates prosecution but doesn't mean reporting is useless — law enforcement agencies share intelligence internationally.
How do I check if a SWIFT payment is real?
Get the UETR (36-character code, format 8-4-4-4-12). Paste it into ohmyfin.org. A real payment shows ACSP/ACSC/ACCC status. A fake payment shows "not found". The check is free and takes under a minute.